Housing Affordability in Sydney
This week, we dive in to the housing affordability issue in Sydney. Michelle shares some survey results and contrasts the way Sydney is tackling the issue to the way Singapore has looked to provide solutions to their own problems. Marcus provides an example of borrowing power and how to potentially increase it with some quick fixes.
HERE’S WHAT YOU’LL LEARN FROM TODAY’S EPISODE:
- Population growth through 2050;
- How all five major cities in Australia ranked in the Demographia International Housing Affordability Survey;
- How many developments are built as a speculative financial asset rather than purpose built housing;
- Housing affordability relative to wages and other expenses over the past 30 years;
- Social and health impacts that lack of affordability has caused;
- How Singapore has tackled its own problems with affordability;
- How the first home buyer concessions may artificially inflate prices for first home buyers;
- The public’s attitude to affordability and how that has changed over the past decade;
- A bank’s borrowing power and a hypothetical case in increasing the amount a first home buyer could borrow; And
- How simple changes can make a dramatic impact on your borrowing power when applying for a loan.
LINKS OR ARTICLES WE MENTIONED:
- Demographia International Housing Affordability Index
- Housing Affordability ABC report
- City Futures Research Centre of UNSW
- Domain on Housing Affordability
SPEAKERS IN TODAY’S EPISODE
Michelle May – Sydney Buyers Agent
Marcus Roberts – Mortgage Broker
ASK US ANYTHING!
- Have a money question you want us to answer? ask@sydneypropertyinsider.com.au
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Please note that any views or opinions presented in this podcast are solely those of the speakers, and do not necessarily represent those of any business. These views and opinions are general in nature, and do not take account of your personal objectives, financial situation and needs. Please consider whether it applies in your circumstances and seek professional advice wherever appropriate.